CFPB releases notices of proposed rulemaking on payday lending

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The CFPB is proposing to rescind certain provisions of its 2017 final rule governing “Payday, Vehicle Title, and Certain High-Cost Installment Loans.” Specifically, the bureau is proposing to rescind the rule’s requirements that lenders make certain underwriting determinations before issuing payday, single-payment vehicle title, and longer-term balloon payment loans. Continue reading “CFPB releases notices of proposed rulemaking on payday lending”